Polaris Greystone Financial Group LLC Increases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Polaris Greystone Financial Group LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 105.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,020 shares of the coffee company’s stock after buying an additional 127,165 shares during the quarter. Polaris Greystone Financial Group LLC’s holdings in Starbucks were worth $22,962,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Regal Wealth Group Inc. boosted its stake in shares of Starbucks by 210.7% in the fourth quarter. Regal Wealth Group Inc. now owns 320 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 217 shares during the period. 1 North Wealth Services LLC purchased a new position in shares of Starbucks in the third quarter valued at approximately $30,000. Sound Income Strategies LLC boosted its stake in shares of Starbucks by 209.0% in the fourth quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock valued at $30,000 after purchasing an additional 232 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of Starbucks by 3.9% in the third quarter. Candriam Luxembourg S.C.A. now owns 373,364 shares of the coffee company’s stock valued at $33,000 after purchasing an additional 14,069 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Starbucks by 246.6% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 402 shares of the coffee company’s stock valued at $36,000 after purchasing an additional 286 shares during the period. 69.92% of the stock is owned by institutional investors.

SBUX stock traded down $0.89 during midday trading on Friday, reaching $84.95. 6,370,362 shares of the company were exchanged, compared to its average volume of 7,326,150. Starbucks Co. has a 1-year low of $67.08 and a 1-year high of $99.72. The stock’s 50-day simple moving average is $89.62 and its 200 day simple moving average is $89.42. The company has a market cap of $101.78 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 2.21 and a beta of 0.51.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. Starbucks had a net margin of 13.81% and a negative return on equity of 62.51%. The company had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Starbucks Co. will post 3.02 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Thursday, February 6th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.64 dividend on an annualized basis and a yield of 1.93%. Starbucks’s payout ratio is currently 57.95%.

Several research firms have recently commented on SBUX. William Blair reissued a “buy” rating on shares of Starbucks in a research note on Wednesday. Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $93.00 target price on the stock. in a report on Monday, January 6th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $97.00 target price on shares of Starbucks in a report on Thursday, January 23rd. Barclays raised shares of Starbucks from an “equal weight” rating to an “overweight” rating and set a $107.00 target price on the stock in a report on Thursday, January 9th. Finally, Weeden reaffirmed a “neutral” rating on shares of Starbucks in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the stock. Starbucks currently has a consensus rating of “Hold” and an average price target of $93.24.

In other news, EVP Lucy Lee Helm sold 18,982 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $88.49, for a total transaction of $1,679,717.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $88.12, for a total transaction of $374,686.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,234 shares of company stock worth $2,227,343. 3.98% of the stock is owned by corporate insiders.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Further Reading: Asset Allocation, Balancing Your Investments

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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